Commercial real estate returns 2.57 percent in first quarter
Commercial real estate returns held steady in first quarter 2013. The NCREIF Property Index (NPI) posted virtually the same returns as in the previous quarter, while the NCREIF Open-end Diversified Core Equity Index (ODCE) recorded a small uptick in the first quarter, according to the National Council of Real Estate Investment Fiduciaries (NCREIF).
The NPI’s total return was 2.57 percent, composed of 1.39 percent income and 1.18 percent appreciation, almost equivalent to the fourth quarter levels of 1.34 percent income and 1.16 percent appreciation.
The retail sector ended 2012 as the best-performing sector and has continued to outperform other property sectors, posting a 3.72 percent return in the first quarter. Apartments had the second highest total return at 2.57 percent. The hotel sector post